12 MAIL TRIBUNE, Medford, Oregon, Friday, Auguir t. 1938'
Market Men Talking Inflation
Since Averages Pass 500 Mark
BT ELMER C. WALZER
UPI Financial Editor
New York UPIi Since the
stock market industrial aver
age crossed the 500 level
f1mmmct there has been
Y f a deluge of
f' ' tion- The sub
Art ject has been
HVvhighlighted in
' - J many business
i W i ic at ions.
( ' y I Brokers have
talked about
Elmer wuzer it. It all start
ed a few weeks ago when
there were rumors, entirely
unconfirmed, that the Fed
eral Reserve was abandoning
its easy money policy to pre
vent a return of inflationary
tendencies.
That caused a sharp drop
in bond prices at just about
the time a lot of novices had
taken a flyer at free riding
on an issue of government
bonds.
Newsweek in its current is
sue features inflation under
the caption, "Booby Trap
More Inflation."
Moody's stock survey notes
that the Middle East crisis
brought up the idea of a pos
sible limited war with a de
cided inflationary twist. The
survey holds that the chief
danger to the market at this
point is from deflation of that
image.
Standard & Poor's recently
said the rise in cyclical stocks
stemmed from the twin forces
of business improvement and
inflation psychology, both ac
centuated by the Middle East
crisis.
No Bargains
Barron's held that stocks
are" plainly not on the bar
gain counter and, even grant
ed inflation will be allowed
to run its classical course,
earning power must revive
quickly and forcefully to sus
tain a continuation of the
pace of advance of the past
months.
Financial world finds bull
ish psychology has been
stemming from the undoubted
inflationary factors in the out
look. Joseph E. Granville, analyst
for E. F. Hutton & Co., says
that thus far the market has
been telling us that the prob
lem of inflation has been re
placing that of recession.
Any number of additional
examples of this inflation dis
cussion could be cited. And
now there is a bit of evidence
that it's spreading what with
steel prices in an upturn 'and
the prospect of other price
advances.
However, there are warn
ings that inflation while it
may be building hasn't be
come the force some people
think it has.
The current business and
investment service of Inter
national Statistical Bureau
takes that view.
"There is little likelihood,"
says that service, "of any
marked, gain occurring imme
diately or even before the
end of the year, assuming no
marked worsening of the Mid
dle East situation."
Prices Hold Fast
"Despite the inflationary
psychology, generated party
by the huge federal deficit,
there are no indications of
sharply higher prices either
wholesale or retail."
Business and investment
service finds no inflation in
residential building or real
estate values, and it notes
there has been considerable
selling of goods below so-called
official quotations. Also
the Middle East situation has
brought only moderate gains
in international commodities.
The service holds that while
there is no marked inflation
indicated, deflation has run
its course and it adds that
inflationary factors are gain
ing. These factors include a pos
sible S12 billion budget defi
cit, increasing supplies of
money, edging up of labor
costs, more liberal credit
terms in the making, and con
tinuation of agricultural sup
port.
The service believes corpo
rations should do more buy
ing and that they should give
consideration to further rises
in labor costs in their pricing,
and that real estate operations
can continue on a normal
basis.
GOODNIGHT KISS Mrs. Gladys Thompson forgot to
kiss her son, Ricky, 3 goodbye as she left for her second
shift job in Milwaukee. Ricky remembered this three
hours later, and walked four miles to the plant where
she worked to get his kiss. Mrs. Thompson says she
won't forget again.
Quotes From the News
By United Press International
London Prime Minister Macmillan, proposing in a note
to Soviet Premier Khrushchev a special UN Security Council
meeting to be attended by the heads of government in New
York:
If this meeting is agreed, I shall be there on Aug. 12; I
hope you will be there, too."
London Abdul Monem Rifai, Jordan ambassador to
Britain, oh the consequences of any premature withdrawal
of American troops from Lebanon:
"When the second round in this Middle East struggle
comes, there will not be any Arab countries left for the West
to land troops in to resist aggression. It will be the other
side that gets the troops there first."
Moscow Adlai Stevenson, commenting that his Soviet
tour uncovered a "depressing lack of knowledge" about and
a keen sense of competition with the United States:
"... I wonder if it is understood that the basis for peace
ful existence is mutual trust."
Guatemala City Milton Eisenhower, on the results of
his 21-day tour of Central America:
"I am now better acquainted with the problems affect
ing the 12 million people living in this important part of the
hemisphere."
San Francisco Teamsters president James Hoffa, advis
ine AFL-CIO president George Meany to consider "his own
past associations and his own past actions" before making
charges against Hoffa:
"I think George will understand what I mean."
" . '
Washington Roger Robb, Washington counsel for Boston
textile tycoon Bernard Goldfine, on whether he also repre
sented Goldfine's friend, Presidential Aide Sherman Adams:
"Absolutely not: I never met Mr. Adams but once and
that was before this started. The White House not calling
the shots. Nobody calls the shots for me."
ILLINOIS VALLEY
Center Made Tax Free
By RUTH RAUSCH
Cave Junction The Illinois
Valley Medical Center will
not have to pay the remainder
of the 1949-51 income taxes,
and the assessment will be
administratively' withdrawn,
according to a letter received
by Larry Cushing from B. K.
Herndon of Grants Pass.
Herndon received the an
nouncements from the reve
nue audit division of the Fed
eral Income Tax bureau in
Portland.
tie Evitt, Louise Woodbury,
Hazel Slanaker, Marie Breck-
enridge, Betty Owen, Lee An
derson, Ann Trumbull, ' Al-
louie McDonald, Melba Mc
Donald, Helen Bottel and
Misses B e r n a and Dana
Lemm.
Participating but unable to
attend were Edna Lee and
Grace Kubli.
Word has been received
that Mrs." Roy Shadle died in
Los Angeles July 26. Mr. and
Mrs. Roy Shadle were pub
lishers of the Illinois Valley
News from 1945 until 1947.
The Illinois Valley High
school junior class will stage
another car wash on Satur
day, Aug. 9, at Ted's Shell
station in Cave Junction. This
will be another in a series of
summer car wash days in the
fund raising campaign of the
junior class in order to fi
nance the coming Junior-Sen
ior prom.
Mrs. Art Kellert will be in
Wilderville Methodist church
to report on the sessions of
the Oregon Annual confer
ence. The Sunday service will
be led by several of the lay
men.
Mr. and Mrs. Vernon Lar
son and family have returned
from a vacation through Yel
lowstone National park, Dick
inson, N. D., Seattle and the
Wallowa mountains.
Ronald Tresham has his
friend, Fred Reynolds, of
Brookings as his house guest
this week.
Guests at the Roland Tres
ham home last week wese
Mr. and Mrs. Harold Wright
and two children of Central
Point and Mr. and Mrs. John
Wilson of Portland.
A surprise birthday party
for honoring Mrs. Homer Sni
der was given at the home of
Mrs. Leonard Staples with
Mrs. Emma Lemmas cohost-
ess. Attending were Mesdames
Esther Quinn, Faye Warren,
Jean Nolan, Agnes Love, Hat-
SAVE! SAVE! SAVE!
On All Purchases of $50.00 or
More From Brooks . . . You Buy At
WHOLESALE.
PRDCES!
This is our BRAND NEW PRICE POLICY that is in effect
right now and will be in effect from now on. There are
no gimmicks ... this is NOT a sale! When you buy at
Brooks . . . you buy at WHOLESALE!
All Famous National Standard Brands That Carry the
Manufacturer's Label and Standard Warranty!
AMERICAN STANDARD
BRIGGS CRANE
WESTINGHOUSE
NUTONE OTHERS
Choose From Samples In Our Showroom
Delivery In From 1 to 3 Days!
Brooks Electric
and Plumbing
1116 N. Riverside Ave.
The Young People's group
of the Bridge view Communi
ty church went on a weekend
camping trip at the Surf Side
camp in Brookings July 25-27.
Going to camp on Friday
were Ronald Tresham, Mary
Coleman, Cecil Kimmerman,
Olga and Audrey Rigel and
Bonita Gresham, accompa
nied by Mrs. Don Zimmerman
and Mrs. Roland Tresham.
Joining the campers on
Saturday were Gary Bell,
Bill Coleman, Suzan Gray,
Christine Looper with the
Rev. and Mrs. Martin Brown
and daughter, Marilyn.
Baby Abandoned at
Lake view Station
Lakeview, Ore. (UPD A
service station attendant here
received a telephone call
from a man who said he had
left a wristwatch in the rest
room at the station. When the
attendant checked, he found
not a wristwatch but a week
old baby girl.
Police said the child ap
peared to be in good health
and was dressed in clean clo
thing. The attendant tokr officers
that shortly before the phone
call three persons had visited
the station, a man, an elderly
woman, and a young girl car
rying a baby.
Farm Federation
Delegates Meet
Bend (UPD Oregon Farm
Bureau Federation delegates
from 30 counties met here
Thursday to begin the resolu
tions conference.
The meet will . end today.
State president of the fed
eration, Gerald Detering, said
the purpose of the conference
is to consider resolutions
passed by the centers and
county farm bureaus. The con
ference will result in a set of
recommendations on issues to
be voted on by the members
in the final policymaking pro-
The Hollywood Scene
Hollywood (DPD Who'd
ever think a oarnyara cat
handicapped by "convergent
strabisma" and mis-named
Elmer would mean a free trip
to Hollywood for a Mendon,
Ohio, farmer? .
But late next month Larry
Hamilton and his cross-eyed
calico cat will be flown here
so Elmer can take the title
role in "My Aunt's Cat,
Ralph," a CBS-TV telefilm
story to ' be filmed for the
"Millionaire" series.
Elmer, in truth a she and
the mother of a new litter.
won out over 568 other fe
lines whose owners had sub
mitted photographs to the TV
show's story editor, Milton
Merlin.
Merlin launched a nation
wide hunt for a cat such as
Elmer two months ago when
the usual Hollywood animal
sources failed to turn up
calico which looked "unwant
ed" enough to suit the story,
Eyes Crossed
Elmer, a cool cat whose
crossed eyes have never prov
ed much of an affliction save
for a barnyard mouse he fail
ed to catch now and again,
came to Merlin's attention
thanks to Joe O. Riley, state
editor, of. the Lima News in
Lima. Ohio.
The mistake in Elmer's
gender was discovered only
eight weeks ago.
According to the CBS pub
licity boys, Elmer was miss
ing from his usual haunts for
more than a week until Ham
ilton, aged 24, found "him"
harboring a lusty, newborn
litter of kittens in a corner
of the barn. loft.
But if there s any name
changing to be done at all it'll
be that of the story. Pro
ducer Don Federson, creator
Engineers, AGC
Continue Talks
Portland (UPD Mediation
talks resumed Thursday in
the Operating Engineers apd
Associated General Contrac
tors labor dispute that has
halted work in Southwest
Washington and Oregon. ,
Portland Mayor Terry D.
Schrunk sat in on the sessions
Thursday morning. He had
offered the services of his of
fice in an attempt to bring
about a speedy settlement of
the dispute.
A union spokesman said in
one of the two sessions Thurs
day that "compared to wages
north and south of us, the
wages here are pitiful."
A spokesman for the AGC
said a recent wage offer
would total $25.40 per day
for the lowest classification,
in addition to "costly fringe
benefits." "We don't feel this
is a pitiful wage offer," he
said.
NO WEEK END TRIP
Washington (UPD President
Eisenhower plans to spend the
week end at the White House.
Press Secretary James C. Hag
gerty said there was no parti
cular reason for the President
not going to his Gettysburg,
Pa., farm as he does most
week ends. -
LOOK
On. Page 10
Section 1
KRUGGEL'S
TEXACO
By HAZEL JOHNSON
United Press Writer
of the series, has indicated
he may change the title to
"My Aunt's Cat, Elmer" in
deference to the new-found
feline.
Cost a Quarter
"Elmer's two and a half
years old now, a ripe old age
for a cat," Hamilton told the
publicity men, "and if we
changed his name now, he
wouldn't know we were call
ing him." '
Hamilton, in partnership
with his father and a friend,
Lloyd Pritchard, 72, bought
Elmer's mother three years
ago for the .staggering sum
of 25 cents.
Six months later Elmer was
born along with five brothers
and sisters,' all straight-eyed
and straight-limbed, except
for Elmer, the runt of the
litter. .
Elmer was the only one of
the six they didn't give away.
Marine Carpenters
To Strike Monday
San Francisco (UPD Two
thousand West Coast Marine
Carpenters will walk off their
jobs Monday in a strike that
could idle 20,000 shipyard
workers on the Pacific Coast.
Stan Lore, executive secre
tary of the Pacific Coast com
mittee of Marine Carpenters,
said Thursday that the de
cision to ,walk out followed
the breakdown of contract ne
gotiations. He said the major
issue at stake was the union's
demand for a 10-cent hourly
contribution to a pension
plan.
Shipyards from the San
Francisco Bay area to Bel-
lingham, Wash., will be af
fected by the, work stoppage,
Lore said.
Federal Conciliator Wayne
Kenaston has been meeting
with the carpenters and ship
yard representatives during
negotiating sessions. No fur
ther meetings were slated.
A one-year contract ran out
June 30 and an extension ex
pired Tuesday. Previous con
tract talks had been held in
Seattle, Oakland and Portland.
Court Records
MUNICIPAL COURT
Theodore Hillard Brown, failure
to yield right of -way. $10.
Willetta Gayle Robertson, failure
to yield right of way. $10.
Mildred Margaret Dunlap, im
proper lane usage. $5. -
Gary George Stevens, violation
of basic rule. $10.
John William Morrison, failure to
yield right of way. $10.
DISTRICT COURT , '
Jack M. Day. violation of basic
rule. $15.
Charles Richard Greene, failure
to stop, $10.
bam Morse, overload. S59.
Carl Eugene Anderson, overload.
$35.
Duane From, failure to dim,
S7.50. ...
W.
CIRCUIT COURT
Mattie Z. Hicks vs. James
Hicks, divorce complaint. ,
Kathryn L. Tramrnell vs. Vireil
B. Tramrnell, annulment complaint.
MARRIAGE LICENSE -
APPLICATIONS
Norman Georee Bursine and
Marjorie Alice Shaw, both of Med-ford.
Raymond Lee Smith. Eueene
and Donna Ann Mullin, Medford.
HERTZ
TRUCK RENTAL
Available
at
HCPI
SERVICE
McAndrews at Court SP 3-06l
HALF BURIED Stranded cars on the Barton Flat
Mountain Road near Forest Home, Calif., are half buried
in silt after flash floods washed tons of dirt and rocks
down on the roads yesterday. No-one was killed.
Cafe, Station
Gutted by Flames
Salem (UPD Fire of un
determined origin gutted the
Mowry Cafe and Service sta
tion at Chemawa Junction
three miles north of here late,
Thursday. .
State police said the fire
was under control once and
restarted after firemen had
left the scene.
The second outbreak gutted
the restaurant and did dam
age to the service station.
There was no estimate of damage.
Fire trucks and . firemen
from Brooks, Kaiser and
Four Corners were called out
to fight the blaze.
The fire was under control
in less than an hour.
SHAKING HANDS at White House following luncheon,'
President Eisenhower bids farewell' to Italian Prime Minis
ter Amintore Fanfani who has been his guest on state visit.
TICKETS NOW
ON SALE AT
Purucker's
.9 Lamports
- Barker's .
1958 WESTERN REGIONAL
SKI TOURNAMENT
' Gardener Lake, Aug. 8-9-10
Sniis"." " " 50c Sponsored by
Adults ... - - 90c Crater Lions Club of Medford
6 and under - - Free Proceeds to Deaf Children's Home
Wool Production
For Year Estimated
Washington (UPD The Ag
riculture Department has es
timated 1958 shorn wool pro
duction at 240,446,000 pounds
an increase of 2 per cent over
last year and 4 per cent above
the 1947-56 average. "
The 1958 crop was the larg
est since 1947 when 251,425,
000 pounds were produced.
The department said 3 per
cent more sheep were or will
be shorn this year than last.
It is estimated the number
of sheep shorn and expected
to be shorn this year at 29,
418.000 head. The average
weight per fleece, 8.17 pounds
i 1 per cent less than last
year and the lightest since
1949.
Shorn wool production in
Texas, the leading sheep state,
was esimated at 39,554,000
pounds, up slightly from last
year.
!
! 7 A r.'V 7
BILL'S THRILL Three-year-old
Bill Raley of Kan
sas City, Mo., got quite a
thrill being rescued by the
K.C. Fire Department after
he locked himself in the
bathroom. Bill's father was
not so thrilled, and gave
Bill a spanking when he
reached the grpund..
LEA
MOTORS
5th at Bartlett - SP 2-6185
SPECIAL! JL
We Need More Room!
NOW IS THE TIME
August is our final delivery Month at our Summer
Prices. So don't delay Get yours today.
DOUGLAS FIR PEELER HEARTS
Unsplit-Split
$I400
-Double Load
.Double Load
PHONE
SP 2-8086
TimberP
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for 40 Years"
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